265 S Meachem Rd #3 · Port Clinton, OH 43452

$45,000

2 bd · 1.0 ba · 1,200 sqft · Manufactured · 80 Days on market

Built 1979 $465/mo HOA · 19% of rent ↓ 21% since listing

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * * SELLER WILL ENTERTAIN ALL OFFERS * * * * Value-Add Opportunity with Major Updates Completed. This 2-bedroom, 1-bath home with potential for a third bedroom offers a great opportunity to finish a partially renovated property and personalize it to your taste. Many major improvements have already been completed within the last 2-3 years, including a newer roof, newer siding, updated outlets, blown-in ceiling insulation, and updated electrical wiring with a newer breaker box. The primary bedroom and bathroom have been updated, featuring a newer tub, newer toilet, and newer bath/shower surround. The kitchen includes newer lower cabinets, a newer sink, and PEX water lines extending to the bathroom. Most of the home has newer sub-flooring installed (excluding the small bedroom), and the majority of windows have been replaced, providing excellent natural light and improved energy efficiency. Offering a blend of completed renovations and remaining finish work, this property is ideal for buyers seeking a value-add home, renovation opportunity, or affordable primary residence or vacation getaway near the Portage River. With just a few projects left to complete, this home has the potential to quickly become a cozy retreat or full-time residence. Community amenities include a pool, clubhouse, and shower house. Bring your vision and finish what's been started make this one yours today! * * * Per park rules, no subletting or short-term or long-term rentals are permitted. Park Approval required. * * *

Key facts

• Newer roof
• Newer siding
• Newer breaker box

Tags

• NEWER ROOF
• NEWER SIDING
• UPDATED OUTLETS
• BLOWN-IN CEILING INSULATION
• UPDATED ELECTRICAL WIRING
• NEWER BREAKER BOX

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 36.0% vs local median 2.4% in Port Clinton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#359 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, amenities F, commute F.
• Port Clinton City (town): math 55% / reading 59% proficiency, ranked #342 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bataan Memorial Primary School (352 students, 79% FRL); Port Clinton Middle School (math 59% / reading 64%, grade B+, #248 of 654 statewide, top 38%, 350 students, 45% FRL); Port Clinton High School (math 37% / reading 62%, grade D, #390 of 781 statewide, top 54%, 509 students, 38% FRL).
• Market conditions: 224 active listings in the ZIP; 128 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ottawa County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 5.31% ✓
• Cap rate: 35.96%
• Cash-on-cash: 105.94%
• DSCR: 5.71
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.74×
• Total profit: $59,684
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 12.05×
• Total profit: $139,221
• Equity at exit: $3,891

Cash invested: $12,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43452

• Active inventory: 224
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $2,390 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$465
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $1,046

Break-even live

Break-even rent $1,066

Max offer price $45,000

Occupancy floor 51%

Sensitivity live

Price	-10% $1,077	-5% $1,061	+0% $1,046	+5% $1,030	+10% $1,015
Rent	-10% $857	-5% $951	+0% $1,046	+5% $1,140	+10% $1,235
Rate	-1.0pp $1,069	-0.5pp $1,057	base $1,046	+0.5pp $1,034	+1.0pp $1,022

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $465 · $5,580/yr
• Likely covers: waterelectricpool

Listing history 17 events

1. 2026-06-21
   statusdays on market $45,000 Pending 80 DOM
2. 2026-06-18
   days on market $45,000 Active 78 DOM
3. 2026-06-17
   days on market $45,000 Active 77 DOM
4. 2026-06-16
   days on market $45,000 Active 76 DOM
5. 2026-06-15
   days on market $45,000 Active 75 DOM
6. 2026-06-13
   days on market $45,000 Active 73 DOM
7. 2026-06-12
   days on market $45,000 Active 72 DOM
8. 2026-06-09
   days on market $45,000 Active 69 DOM
9. 2026-06-08
   days on market $45,000 Active 68 DOM
10. 2026-06-08
    days on market $45,000 Active 67 DOM
11. 2026-06-07
    days on market $45,000 Active 66 DOM
12. 2026-06-04
    days on market $45,000 Active 63 DOM
13. 2026-06-02
    days on market $45,000 Active 62 DOM
14. 2026-06-01
    days on market $45,000 Active 61 DOM
15. 2026-05-31
    days on market $45,000 Active 60 DOM
16. 2026-04-16
    price $45,000 1530-char remark

    Show marketing remark (1530 chars)

    * * * * SELLER WILL ENTERTAIN ALL OFFERS * * * * Value-Add Opportunity with Major Updates Completed. This 2-bedroom, 1-bath home with potential for a third bedroom offers a great opportunity to finish a partially renovated property and personalize it to your taste. Many major improvements have already been completed within the last 2-3 years, including a newer roof, newer siding, updated outlets, blown-in ceiling insulation, and updated electrical wiring with a newer breaker box. The primary bedroom and bathroom have been updated, featuring a newer tub, newer toilet, and newer bath/shower surround. The kitchen includes newer lower cabinets, a newer sink, and PEX water lines extending to the bathroom. Most of the home has newer sub-flooring installed (excluding the small bedroom), and the majority of windows have been replaced, providing excellent natural light and improved energy efficiency. Offering a blend of completed renovations and remaining finish work, this property is ideal for buyers seeking a value-add home, renovation opportunity, or affordable primary residence or vacation getaway near the Portage River. With just a few projects left to complete, this home has the potential to quickly become a cozy retreat or full-time residence. Community amenities include a pool, clubhouse, and shower house. Bring your vision and finish what's been started make this one yours today! * * * Per park rules, no subletting or short-term or long-term rentals are permitted. Park Approval required. * * *

17. 2026-04-01
    listed $57,000 Active 1530-char remark

    Show marketing remark (1530 chars)

    * * * * SELLER WILL ENTERTAIN ALL OFFERS * * * * Value-Add Opportunity with Major Updates Completed. This 2-bedroom, 1-bath home with potential for a third bedroom offers a great opportunity to finish a partially renovated property and personalize it to your taste. Many major improvements have already been completed within the last 2-3 years, including a newer roof, newer siding, updated outlets, blown-in ceiling insulation, and updated electrical wiring with a newer breaker box. The primary bedroom and bathroom have been updated, featuring a newer tub, newer toilet, and newer bath/shower surround. The kitchen includes newer lower cabinets, a newer sink, and PEX water lines extending to the bathroom. Most of the home has newer sub-flooring installed (excluding the small bedroom), and the majority of windows have been replaced, providing excellent natural light and improved energy efficiency. Offering a blend of completed renovations and remaining finish work, this property is ideal for buyers seeking a value-add home, renovation opportunity, or affordable primary residence or vacation getaway near the Portage River. With just a few projects left to complete, this home has the potential to quickly become a cozy retreat or full-time residence. Community amenities include a pool, clubhouse, and shower house. Bring your vision and finish what's been started make this one yours today! * * * Per park rules, no subletting or short-term or long-term rentals are permitted. Park Approval required. * * *

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,684
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$1,022
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − HOA: −$5,580
• − Depreciation: −$1,309
• Taxable income: $12,987
• Est. tax owed @ 24.0%: −$3,117
• After-tax cash flow: $9,434/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Port Clinton City
• NCES district ID: 3904465
• Math proficiency: 55% ▼ -14.00%
• Reading proficiency: 59% ▼ -11.00%
• Median HH income: $47,532
• Composite: 48.34/100
• National rank: #2145
• State rank: #342 of 656 in OH

Livability — Port Clinton

• Score: 72/100
• State rank: #359
• US rank: #5778

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment C- Housing A+ Health & safety B+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ottawa · 37,113 people
• City population: 14,052
• Metro: Sandusky, OH
• Population (ZIP): 14,052
• Household income: $63,815
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 5.6

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 39,548 people
• By 2030: 38,297 · -3.2%
• By 2040: 35,070 · -11.3%
• By 2050: 31,956 · -19.2%
• By 2075: 27,454 · -30.6%
• By 2100: 23,596 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Black 2%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+25.1) · D 37.0% · R 62.1%
• 2008→2024 swing: -31.3pp toward R · 2008: 6.3pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+23.4 2016: R+19.6 2012: D+4.1 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -145.50%
• Current HPI: 219.0624
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

-21.1% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $45,000 FAOR
• 2026-04-01 Listed $57,000 FAOR